Whatever
the "croupier" regulators in Washington D.C. are doing about gambling
with credit derivatives, it does not seem to be working.

Can keeping banks from "gambling" and keeping other "gamblers" from "counting financial cards" be that difficult?!

Or have we none smart enough in government to deal with the people they are supposed to regulate?

Maybe the government should hire some of the people
who are MAKING billions to tell them how the system can outsmart those
who are busy outsmarting the system. Why are all the top chess players
on the private side of the equation?

On the other hand, we are very much in favor of wealth
accumulating in the hands of those who understand wealth, and who know
what to do with money, so perhaps this is just a battle for the survival
of the fittest in financial circles.

But then again, what
gain does the average citizen have from this, other than financial ups
AND downs. Recessions are adjustments, nothing more.

After all, as a legal matter, all kinds of gambling can
be prohibited by law, also financial gambling by banks and funds. Maybe
also the government should hedge ITS bets!

But what then would be the cost of prohibition? Would the money all then run off to overseas gambling meccas? Perhaps.

Nevertheless, who says we have to play by traditional
rules that always favor those who have deeply studied and best
understand the game to be played, in which case the result of the game
is determined by those same rules -- as John von Neumann game theory so aptly demonstrated.

It is perhaps time to change the rules and level the playing field -- again.